Neptune Dash Announces Corporate Strategy Update
VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Neptune Dash Technologies Corp. (“Neptune” or the “Company”) (TSX.V:DASH) (OTC:NPPTF) (FSE:1NW) is pleased to provide an update on
Over the last 6 to 12 months, Neptune has commenced a methodical diversification strategy into other top market cap tokens dominated by Bitcoin and Cosmos ATOM. In order to remove the risk of a single token and take advantage of the exciting DeFi space which now shows tremendous potential to generate income on tokens other than DASH, the Company felt it is advantageous to hold a portfolio of cryptocurrencies, mainly Bitcoin, Cosmos ATOM and of course DASH. As of the date of this news release, the Company has substantially decreased its DASH token holdings to 6 Masternodes, much of the DASH tokens were traded for BTC which are earning 6.5% per annum substantially more than DASH in the form of Masternodes, and at a lower cost. Cosmos ATOM holdings remain staked and are earning upwards of 9% per annum which is periodically reinvested. The cryptocurrency market is a rapidly evolving environment and as such, in order to remain relevant and in growth mode, the Company must constantly adapt and change with the environment. The Company also holds several other cryptocurrencies including Fantom, Ethereum, Litecoin, Stellar, NEO, Omisego and QTUM.
The Company has invested $250,000 USD of our DASH holdings into Protocol Ventures Quant, a multi-strategy, quant driven digital asset hedge fund with a suite of market neutral, buy/hold, DeFi yield farming and HFT/market making strategies aimed at delivering superior risk adjusted returns. In a highly volatile and dynamically evolving emerging asset class like cryptocurrency, we believe that active management by a Silicon Valley based team of veteran fund managers with domain specific expertise, disproportional access to deal flow and successful track records in cryptocurrency dating back to 2013, adds smart, complementary exposure to our existing holdings. The Protocol Ventures Quant team is led by Harry Yeh, Nabeel Qadri and Rick Marini, a team with a combined three prior crypto funds under management, three successful company exits, and 25+ years of experience in Silicon Valley. The Company expects to continue to add to it’s investment with Protocol